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Big-name Bitcoin mining company stakes its HQ in Austin, making it new cryptocurrency hub

Bitcoin is a digital currency that is mined by companies like Blockcap that use blockchain technology to create and record currency.

Elon Musk and girlfriend Grimes may have brought a high-profile love for cryptocurrency to Austin, but the city is now also host to one of the largest blockchain technology companies in North America.


Blockcap, a company dedicated to bringing Bitcoin and other cryptocurrencies out of the shadows and mining for cryptocurrency, is moving its headquarters from Las Vegas to Austin. The company was welcomed by the nation's newest tech hub and was even applauded by former Texas governor Rick Perry for making the move.

Blockcap founder and executive chairman Darin Feinstein said that Austin is the next big thig when it comes to cryptocurrency.

"Austin is our home base from which we will pursue our mission and bring this great city closer to the center of the United States' blockchain technology ecosystem," Feinstein said. "We also see the city as an ideal location from which to continue expanding our operations as we grow at both national and international levels."

With the all-digital Bitcoin, record-keeping, creating currency and using bitcoin can all be done by the same entity.

Blockchain technology, which Blockcap utilizes, serves as the closest thing to a bank for decentralized Bitcoin currency. By mining for bitcoin, Bitcoin users actually create currency as they use software, or "miners," to solve complex math problems. Bitcoin miners then record these transactions and make a safer currency network.

On Monday, the company announced it had added 8,000 miners to its repertoire and said it would soon surpass 50,000 miners in its supply.


Blockcap already accounts for 0.7% of all Bitcoin transactions, and with the 50,000 miners fully operational in the next year, it will only continue to grow its share.

Next up, Ethereum. Blockcap's announcement Monday came with a new up-and-coming cryptocurrency. Ethereum, which is the world's second-largest digital currency by market capitalization, has been used as a currency for Grimes' NFT artwork. It's considered the "next big thing" in cryptocurrency, especially when it comes to selling in the skyrocketing digital art and collectibles market, and Blockcap is ready to bring it into its arsenal.

The company announced that it would purchase Ethereum miners as another facet of its aggressive growth plan and it estimates it will account for 0.21% of the entire Ethereum network when its miners are fully operational.

Feinstein said the company is motivated to grow because it hopes to make the U.S. the forefront of mainstream Bitcoin use.

"Blockcap's growth strategy is focused on bringing various peer-to-peer digital assets directly to the people who will utilize them to improve their lives," Feinstein said. "We strive to contribute to the critical infrastructure necessary for mass adoption of these digital asset technologies so people can participate more fully in the global financial system. Currently, there are over 1.7 billion people around the world with no access to banking, and the rise of these digital asset networks will make financial products more inclusive and available to every individual."

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A big announcement from Austonia

Howdy, and happy holidays.

I have some big news for you.

Austonia is now part of 6AM City, a fast-growing network of hyper-local newsletters across the country.

I’m proud to be telling you this, because 6AM City’s mission is very much like Austonia’s — a daily morning update on events, things-to-do and news, with an underlying mission of community building in the cities they serve.

If you’re not already subscribed, 6AM City’s Austin newsletter is called ATXtoday. One of its city editors is Laura Figi, who you’ll remember for her previous great work on Austonia’s newsletter.

I’ve been reading ATXtoday every day since it launched last year.

Starting this week, you’ll receive ATXtoday every morning and I’m confident it will become part of your daily wake up routine. Be sure to add hello@theatxtoday.com to your contact list (how to do that here).

Meantime let me thank you for your readership and support of Austonia, and convey my wishes for a great holiday season for you and those close to you.


Thank you,

Mark Dewey

Austonia CEO

Tito's releases (not so?) ugly sweater line for the holidays, profits to charity

Tito's Handmade Vodka

Show your love for Tito's and for the community this year with a wide selection of not that ugly, uglyish, ugly, uglier, and ugliest holiday sweaters.

There's lots choose from, and plenty of accessories like scarves and socks, plus gear for your dog, too.

All of the items can be purchased online or at the Love, Tito’s Retail Store in Austin, TX. 100% of all net proceeds from online or in-store purchases go to one of the nonprofits we’ve teamed up with.

Click here to see the entire collection in the Tito's store.